Streetbeat News

Partnerships

TSLA

Tesla Inc (TSLA) will proceed with the expansion of its Giga Berlin factory despite a local vote against cutting trees for the expansion. Executive Rohan Patel stated the vote has 'zero impact' on future plans, emphasizing the company's commitment to environmental sustainability and community engagement. The expansion aims to double the plant's capacity for battery and car production, despite the non-binding local vote posing a challenge.

Portfolio Pulse from Anan Ashraf

February 22, 2024 | 3:56 am

SHIBUSD

The Shiba Inu (SHIB) ecosystem has seen a 2,730% increase in its burn rate, with 3 trillion tokens moved to entities like Coinbase, Gate.io, Robinhood, and private wallets. The integration of Shibarium by Tangem and the launch of SHEboshi NFTs on Ethereum are notable developments. Daily transactions have surged to 4.21 million, and wallet addresses have exceeded 1 million. The introduction of Shiba Inu trading in UpDown Options on Crypto.com and the potential utility and burning capabilities of Shibarium are highlighted as key factors for SHIB's future growth.

Portfolio Pulse from Khyathi Dalal

February 21, 2024 | 11:47 pm

DIS

SONY

Director Sam Mendes is set to create four interconnected movies about each member of The Beatles, to be released by Sony Pictures Entertainment, a unit of Sony Group Corp (NYSE:SONY). The Beatles and their families, along with Apple Corps music company, have granted full rights for the films. This unique cinematic approach could revolutionize music biopics and the theatrical release strategy is anticipated to be innovative.

Portfolio Pulse from Chris Katje

February 21, 2024 | 11:29 pm

RKLB

Rocket Lab announced the successful return of its custom spacecraft for Varda Space Industries, marking the first of four missions to support in-space pharmaceutical processing.

Portfolio Pulse from Benzinga Newsdesk

February 21, 2024 | 10:59 pm

MSFT

Phil Spencer, Xbox head, announced Microsoft Corp.'s plan to release all games from Activision Blizzard, ZeniMax, and Xbox Game Studios on Game Pass on their launch day, including major titles like Call of Duty. This marks a significant strategy shift, potentially impacting traditional sales models and subscriber numbers. Concerns remain among publishers about the effects of subscription services on game sales, with skepticism from figures like Take-Two CEO Strauss Zelnick. The next Call of Duty installment is expected to launch in late 2023.

Portfolio Pulse from Franca Quarneti

February 21, 2024 | 10:38 pm

CHRD

ERF

Chord Energy Corporation (CHRD) and Enerplus Corporation (ERF) announced a definitive arrangement to combine in an $11 billion transaction, creating a premier Williston Basin-focused E&P company. The combined entity will have 1.3 million net acres, 287,000 Boepd production in 4Q23, and is expected to generate significant free cash flow and shareholder returns. The deal, comprising 90% stock and 10% cash, will see Chord shareholders owning 67% and Enerplus shareholders 33% of the new company. The merger aims to enhance operating scale, drive returns, and achieve cost synergies up to $150 million annually, with a post-transaction return of capital at 75%+ of free cash flow.

Portfolio Pulse from Benzinga Newsdesk

February 21, 2024 | 10:26 pm

RYN

XOM

Rayonier (NYSE:RYN) has expanded its underground pore space lease agreements with ExxonMobil (NYSE:XOM) to cover an additional 33,000 acres, bringing the total to approximately 59,000 acres. This expansion supports carbon capture and storage (CCS) initiatives, leveraging ExxonMobil's extensive CO2 pipeline network in the United States. Rayonier's CEO, David Nunes, highlighted the significance of this partnership in advancing towards a low-carbon economy and maximizing the value of their timberland portfolio through land-based solutions.

Portfolio Pulse from Benzinga Newsdesk

February 21, 2024 | 10:11 pm

ESRT

Empire State Realty Trust, Inc. (ESRT) has signed an 11-year office lease with Sol de Janeiro USA for 57,203 square feet at One Grand Central Place. Sol de Janeiro, a subsidiary of L'Occitane, joins the building's tenant roster, benefiting from modern amenities and transportation access. L'Occitane also expanded its lease at ESRT's 111 W. 33rd Street by 9,497 square feet.

Portfolio Pulse from Benzinga Newsdesk

February 21, 2024 | 10:07 pm

NVRO

Nevro Corp. has entered into a cooperation agreement with Engaged Capital, leading to the appointment of Kirt P. Karros to its board. This strategic move aims to enhance shareholder value and guide Nevro's future direction.

Portfolio Pulse from Benzinga Newsdesk

February 21, 2024 | 9:58 pm

JOBY

Joby Aviation, Inc. (NYSE:JOBY) reported Q4 financial results with a loss of 17 cents per share, beating estimates by 10.53%, but missed sales estimates by 1.71% with $1.03 million. The company highlighted 2023 achievements including an exclusive air taxi operation agreement in Dubai and a piloted flight in NYC. Joby's 2024 focus will be on aircraft certification, manufacturing, and commercialization preparation for 2025, expecting to use $440-$470 million in cash and investments.

Portfolio Pulse from Erica Kollmann

February 21, 2024 | 9:52 pm